Gourmet Master Co Ltd
Gourmet Master Co. Ltd., together with its subsidiaries, operates and franchises chain stores in China, Taiwan, Hong Kong, the United States, and internationally. The company operates its cafes under the 85°C name, which includes beverages, pastries, bread, and other products. It also manufactures and sells bakery products; and wholesales groceries, beverages, and bakery machines. Gourmet Master … Read more
Gourmet Master Co Ltd (2723) - Net Assets
Latest net assets as of September 2025: NT$9.51 Billion TWD
Based on the latest financial reports, Gourmet Master Co Ltd (2723) has net assets worth NT$9.51 Billion TWD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$17.52 Billion) and total liabilities (NT$8.00 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$9.51 Billion |
| % of Total Assets | 54.31% |
| Annual Growth Rate | 12.17% |
| 5-Year Change | 5.34% |
| 10-Year Change | 46.12% |
| Growth Volatility | 35.77 |
Gourmet Master Co Ltd - Net Assets Trend (2009–2024)
This chart illustrates how Gourmet Master Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Gourmet Master Co Ltd (2009–2024)
The table below shows the annual net assets of Gourmet Master Co Ltd from 2009 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$11.24 Billion | +2.56% |
| 2023-12-31 | NT$10.96 Billion | +1.53% |
| 2022-12-31 | NT$10.79 Billion | -1.18% |
| 2021-12-31 | NT$10.92 Billion | +2.37% |
| 2020-12-31 | NT$10.67 Billion | +4.45% |
| 2019-12-31 | NT$10.22 Billion | -2.50% |
| 2018-12-31 | NT$10.48 Billion | +5.55% |
| 2017-12-31 | NT$9.93 Billion | +14.53% |
| 2016-12-31 | NT$8.67 Billion | +12.68% |
| 2015-12-31 | NT$7.69 Billion | +13.54% |
| 2014-12-31 | NT$6.78 Billion | +7.98% |
| 2013-12-31 | NT$6.27 Billion | +0.51% |
| 2012-12-31 | NT$6.24 Billion | +5.50% |
| 2011-12-31 | NT$5.92 Billion | +19.15% |
| 2010-12-31 | NT$4.97 Billion | +147.51% |
| 2009-12-31 | NT$2.01 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Gourmet Master Co Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 604.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$5.23 Billion | 46.24% |
| Common Stock | NT$1.80 Billion | 15.93% |
| Other Comprehensive Income | NT$1.90 Billion | 16.81% |
| Other Components | NT$2.38 Billion | 21.03% |
| Total Equity | NT$11.30 Billion | 100.00% |
Gourmet Master Co Ltd Competitors by Market Cap
The table below lists competitors of Gourmet Master Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
China Master Logistics Co Ltd
SHG:603967
|
$189.52 Million |
|
Korea Electronic Power Industrial Development Co Ltd
KO:130660
|
$189.54 Million |
|
Sharda Motor Industries Limited
NSE:SHARDAMOTR
|
$189.55 Million |
|
Ames National Corporation
NASDAQ:ATLO
|
$189.58 Million |
|
Viant Technology Inc
NASDAQ:DSP
|
$189.44 Million |
|
First Western Financial Inc
NASDAQ:MYFW
|
$189.41 Million |
|
Nanjing Res In of Surveying Mapping
SHE:300826
|
$189.39 Million |
|
NEOBO FASTIGHETER
ST:NEOBO
|
$189.28 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gourmet Master Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 11,016,781,000 to 11,302,786,000, a change of 286,005,000 (2.6%).
- Net income of 589,907,000 contributed positively to equity growth.
- Dividend payments of 630,000,000 reduced retained earnings.
- Other comprehensive income increased equity by 512,343,001.
- Other factors decreased equity by 186,245,001.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$589.91 Million | +5.22% |
| Dividends Paid | NT$630.00 Million | -5.57% |
| Other Comprehensive Income | NT$512.34 Million | +4.53% |
| Other Changes | NT$-186.25 Million | -1.65% |
| Total Change | NT$- | 2.60% |
Book Value vs Market Value Analysis
This analysis compares Gourmet Master Co Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.12x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 5.44x to 1.12x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$12.95 | NT$70.50 | x |
| 2010-12-31 | NT$30.13 | NT$70.50 | x |
| 2011-12-31 | NT$32.27 | NT$70.50 | x |
| 2012-12-31 | NT$34.00 | NT$70.50 | x |
| 2013-12-31 | NT$34.47 | NT$70.50 | x |
| 2014-12-31 | NT$37.37 | NT$70.50 | x |
| 2015-12-31 | NT$42.42 | NT$70.50 | x |
| 2016-12-31 | NT$47.74 | NT$70.50 | x |
| 2017-12-31 | NT$54.75 | NT$70.50 | x |
| 2018-12-31 | NT$58.08 | NT$70.50 | x |
| 2019-12-31 | NT$56.78 | NT$70.50 | x |
| 2020-12-31 | NT$59.52 | NT$70.50 | x |
| 2021-12-31 | NT$61.06 | NT$70.50 | x |
| 2022-12-31 | NT$60.55 | NT$70.50 | x |
| 2023-12-31 | NT$61.20 | NT$70.50 | x |
| 2024-12-31 | NT$62.79 | NT$70.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gourmet Master Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.22%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.11%
- • Asset Turnover: 0.97x
- • Equity Multiplier: 1.73x
- Recent ROE (5.22%) is below the historical average (14.09%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 38.24% | 11.80% | 1.96x | 1.65x | NT$547.56 Million |
| 2010 | 16.94% | 9.91% | 1.32x | 1.30x | NT$338.87 Million |
| 2011 | 19.31% | 9.79% | 1.43x | 1.38x | NT$540.36 Million |
| 2012 | 15.98% | 7.25% | 1.57x | 1.40x | NT$365.61 Million |
| 2013 | 9.25% | 3.80% | 1.71x | 1.42x | NT$-46.27 Million |
| 2014 | 7.85% | 2.94% | 1.82x | 1.46x | NT$-144.88 Million |
| 2015 | 14.92% | 5.57% | 1.66x | 1.61x | NT$375.77 Million |
| 2016 | 20.27% | 7.90% | 1.64x | 1.56x | NT$882.01 Million |
| 2017 | 21.70% | 9.29% | 1.46x | 1.60x | NT$1.15 Billion |
| 2018 | 15.95% | 6.92% | 1.49x | 1.55x | NT$622.16 Million |
| 2019 | 9.13% | 4.03% | 1.02x | 2.21x | NT$-89.12 Million |
| 2020 | 9.48% | 5.16% | 0.89x | 2.07x | NT$-56.11 Million |
| 2021 | 9.95% | 5.50% | 0.95x | 1.89x | NT$-5.92 Million |
| 2022 | 4.43% | 2.48% | 0.95x | 1.88x | NT$-606.78 Million |
| 2023 | 6.87% | 3.70% | 1.05x | 1.76x | NT$-345.07 Million |
| 2024 | 5.22% | 3.11% | 0.97x | 1.73x | NT$-540.37 Million |
Industry Comparison
This section compares Gourmet Master Co Ltd's net assets metrics with peer companies in the Restaurants industry.
Industry Context
- Industry: Restaurants
- Average net assets among peers: $1,411,269,111
- Average return on equity (ROE) among peers: 2.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gourmet Master Co Ltd (2723) | NT$9.51 Billion | 38.24% | 0.84x | $189.47 Million |
| An-Shin Food Services Co Ltd (1259) | $2.50 Billion | 2.65% | 1.56x | $16.35 Million |
| Hi-Lai Foods Co Ltd (1268) | $1.85 Billion | 7.03% | 2.40x | $46.94 Million |
| Kanpai Co., Ltd (1269) | $256.49 Million | 12.45% | 0.95x | $15.68 Million |
| Yummy Town Cayman Holdings (2726) | $712.44 Million | 14.47% | 0.94x | $3.14 Million |
| Wowprime Corp (2727) | $4.47 Billion | 7.73% | 1.12x | $480.84 Million |
| TTFB Co Ltd (2729) | $1.69 Billion | 10.92% | 0.14x | $78.23 Million |
| Mr. Onion (2740) | $86.74 Million | -68.40% | 0.94x | $4.60 Million |
| Renjie Oldsichuan Catering Management Consultant Co., Ltd. (2741) | $675.64 Million | 13.76% | 0.78x | $7.12 Million |
| KINGZA International CO.,Ltd. (2751) | $455.88 Million | 17.78% | 1.00x | $11.15 Million |